Look for the shabbiest house on the nicest block in town. Spruce it up. Sell for profit.

That’s a real estate investing recipe for success more often than not, especially if you can discern between money pits and money makers. When it comes to flipping foreclosures, or even purchasing a discounted distressed property as a primary residence, it’s critical to spot the “diamond in the rough” before someone else beats you to it.

Distressed properties are often in less than tip-top shape, but it’s that shabby exterior that is concealing the massive opportunity for riches for those investors who know how to take advantage of great deals when they see them.

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Spotting a diamond in the rough isn’t difficult, but it does take the right knowledge and an open mind. You need to be able to see past the unsightly condition of a home that has turned off other investors to determine if it is really worth your while.

The September 2011 edition of Foreclosure.com’s free educational newsletter,

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Each bank/lender works a little differently, but they all have similar goals. They want to get the best price possible and have no interest in “dumping” real estate cheaply. Generally, banks have an entire department set up to manage their REO inventory.

Once you make an offer to purchase, banks generally present a “counter-offer.” It may be at a higher price than you expect, but they have to demonstrate to investors, shareholders and auditors that they attempted to get the highest price possible. You should plan to counter the counter-offer.

Your offer or counter-offer will probably have to be reviewed and approved by several individuals and companies. Even once an offer is accepted, the bank may insert wording like “..subject to corporate approval with 5 days.”

While purchasing a commercial property is extremely exciting, running and maintaining that property will require a great deal of effort. Things like where to begin and how to maintain it can be the first of many questions you might think of when thinking about commercial real estate. Learning all the things you have to about being the owner of a commercial property might be hard, but this article will get you going in the right direction to buy some commercial property!

More is better when it comes to buying a property with multiple units. The more units that are in your building, the more money you will get from renters. Some buyers won’t even consider properties that contain fewer than ten units, because they believe that more units means more income to be made.

Writing a blog on the Internet, ideally on your own website, is a great way to prove your expertise to others. This assists in locating people to buy or lease your property.

Ask potential real estate firms how they determine which properties are best for you. Find out how they figure out your space requirements, their important selection criteria of the property, strategy in negotiations and other things that will matter in your transaction. It is in your best interest to find the answers to these questions before you enter into an agreement.

To make sure you are working with the right real estate broker, ask what they consider as a success or a failure. Find out their criteria for deciding whether a result is good or not. You need to understand how they run their businesses. If you are in disagreement with a broker’s strategies and beliefs, you should not work with that person.

It is advisable to go bigger when investing money pertaining to commercial real estate. If you want to get a building that has five units, you need to know that’s it’s no different to manage than 50. Both sizes require substantial financial investments, but the larger unit will ultimately have a lower cost per unit.

Make sure that you explicitly welcome both local and non-local buyers when you sell a piece of commercial property. Most individuals make the error of thinking that only the people in their area are the ones interested in purchasing their property. There are many private investors who would purchase property outside of their local area if the price is right.

There are several differences between commercial and residential loans. For example, commercial loans require a larger percentage in down payment. Searching for a reliable lender and a good investment can lead you to find the commercial loan you need.

To find a trustworthy real estate firm, inquire about their methods on how they make a lot of their money. Discussing this openly is something he should have the ability to do, and he can flat out let you know that his best interest isn’t the same as yours. See to it that you realize how they benefit from a certain transaction that involves you.

Clearly, owning and purchasing commercial property takes work, effort and research so that your experience is as favorable as possible. You must also be persistent. Take the advice from this article to heart, and follow it and your dream of owning commercial property.

November 14, 2011 in Foreclosure Listings, Foreclosure News, Foreclosure Squatters, Nevada Foreclosure Homes by Foreclosure.comNo comments

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November 25, 2011 in Foreclosure Freeze, Foreclosure Moratorium, Foreclosure News by Foreclosure.comNo comments

Wells Fargo is once again putting a freeze on its foreclosure operation on certain dates throughout the 2011 holiday season, which runs from about Nov. 23, 2011 to Jan. 2, 2012, and includes widespread observances in the United States such as Thanksgiving, Hanukkah, Christmas and New Year’s Day, among others.

SFGate.com confirmed the holiday moratorium, adding that other financial institutions such as JP Morgan Chase and Bank of America are also implementing similar initiatives to reduce turmoil and/or displacement during such a family-oriented time.

Major government-sponsored enterprises (GSEs) such as Fannie Mae and Freddie are expected to announce their eviction suspension policies as it relates to this holiday season very soon.

Check out the official Wells Fargo foreclosure moratorium statement after the jump:

“Wells Fargo is suspending eviction actions from Nov. 23 to Nov. 25, and again from Dec. 19 to Jan. 2, 2012. We will not physically evict or conduct lockouts on the foreclosed properties in our owned portfolio during these times. For loans we service for others, foreclosure-related actions may still occur, but Wells Fargo will not evict tenants during these periods.”

In essence, these policies ensure that foreclosure sales are not scheduled and evictions and/or lockouts on delinquent loans are prohibited during these periods.

That means that it will likely return to “business as usual” on Jan. 3, 2012; however, it buys distressed homeowners a little more time to enjoy the holidays with family, as well as provides them with peace of mind that they can celebrate/plan without the fear of having to relocate immediately.

If you’re facing foreclosure and want to know if your lender has implemented a similar foreclosure moratorium policy we encourage you to contact it as soon as possible.

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Entries (RSS)Comments (RSS)Foreclosure.comAbout Foreclosure.comFind Foreclosed HomesRihanna’s house in LA hits the short sale market for $4.5 millionNovember 28, 2011 in California Foreclosure Homes, Celebrity Foreclosures, Real Estate Short Sales, short sales by Foreclosure.comNo comments

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December 2, 2011 in Occupy Foreclosed Homes, Stop Foreclosure by Foreclosure.comNo comments

Visit msnbc.com for breaking news, world news, and news about the economy

The heated battle between Main Street vs. Wall Street has taken another twist, with the grassroots “Occupy” movement shifting its focus to the nationwide housing crisis.

In particular, protesters have vowed to help families who have lost their homes to foreclosure by taking the vacant properties back. It’s been described as a “natural next step” in the fight to highlight the alleged excesses and abuses of the United States financial system.

In addition to moving displaced/distressed families back into their homes, which is illegal because they no longer own them, the Occupy movement has vowed to “disrupt” public foreclosure auctions throughout the nation.

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Entries (RSS)Comments (RSS)Foreclosure.comAbout Foreclosure.comFind Foreclosed HomesChristmas-themed ‘Snoopy’ house in Costa Mesa, CA, falls into foreclosureDecember 7, 2011 in California Foreclosure Homes, Celebrity Foreclosures, Foreclosure Evictions by Foreclosure.comNo comments

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October 14, 2011 in Real Estate Agent Marketing, Real Estate Agent Training, Real Estate Trade Shows, Real Estate Training, Real Estate Trends by Stephen Chip, Foreclosure.com Director of Business DevelopmentNo comments

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October 31, 2011 in Foreclosure Deals, Foreclosure Investment Opportunities, Foreclosure Listings, Investing, Real Estate Investing, REO Deals by Foreclosure.comNo comments

The 2011 real estate season may be mercifully winding down, but its investment scene continues to heat up.

If you ever dreamed of investing in a short sale, foreclosure, tax lien or any other type of distressed real estate situation, preparation is the key to success. And the sooner you get up to speed on whatever money-making plan you intend to hatch, the better it will be for your bottom line (savings or profit).

Even in this market climate, in which inventory is high and prices are at rock bottom, you can’t afford to be caught unaware.

It’s all about staying on top of what’s new and what’s changing in the real estate investment arena. That way, when that perfect property lands in your lap

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It’s turning into foreclosure “Rush Hour” on actor/comedian Chris Tucker’s 10,000 sq. ft. waterfront mansion in Lake Apopka, Fla., which is reportedly in distress to the tune of $4.4 million.

Orlando Sentinel reports that Tucker, who purchased the luxurious five-bedroom expanse for $6 million back in 2007, is in jeopardy of losing it after SunTrust Bank filed a default notice with the local Lake County courthouse. It is not his primary residence, which is perhaps among the many reasons he has not remained current on the staggering $25,812.50 monthly payment.

Tucker and and his power of attorney on the original home sale declined to comment on the situation.

With a combined salary of $45 million to star opposite Jackie Chan in the “Rush Hour” sequel, as well as the trilogy, including an additional multimillion dollar deal to appear in another New Line Cinema-produced film, it’s hard to imagine that Tucker is hard up for cash.

However, last year Tucker and the central Florida property in the prestigious Bella Collina neighborhood were the target of an $11.5 million Internal Revenue Service (IRS) lien, which was out to collect delinquent federal income taxes.

“Money Talks.”

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Foreclosure.com today reminded college students nationwide who are enrolled in undergraduate programs that the deadline to submit essays for its 2011 scholarship program is approaching quickly on Dec. 1, 2011.

Foreclosure.com encourages all students (high school students, graduate students and law students are excluded), regardless of major, to apply for the scholarships, which total $9,000 and are divided among five qualified, winning entrants.

The 2011 Foreclosure.com Scholarship Program essay topic is as follows:

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October 17, 2011 in Foreclosure Laws, Foreclosure Listings, Foreclosure News, Foreclosure Process by Linda Yates, Foreclosure.com Director of EducationNo comments

What is foreclosure? Foreclosure.com Director of Education, Linda Yates, talks about the foreclosure process in the video above, as well as how it’s different everywhere, depending on in which state you live and the laws (non-judicial or judicial) in place. From start to finish, Linda provides a high-level overview of the foreclosure process and the various stages included in it. She also explains the terms Lis Pendens, Real Estate-Owned (REO), Sheriff’s sale and other key words that are common in the foreclosure process.

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October 3, 2011 in Alaska Foreclosure Homes, Arizona Foreclosure Homes, Florida Foreclosure Homes, Foreclosure Laws, Foreclosure Process, Hawaii Foreclosure Homes, Idaho Foreclosure Homes, Nebraska Foreclosure Homes, New Jersey Foreclosure Homes, New York Foreclosure Homes, Washington DC Foreclosure Homes, Wyoming Foreclosure Homes by Foreclosure.comNo comments

The length of the foreclosure process depends on several factors, including the lender, government programs, state in which the distressed home is located and individual circumstances, among others. Foreclosures, if ever, are rarely the same.

However, there are state-by-state averages, which Lender Processing Services Inc. (LPS) tracks each month. Nationwide, homeowners facing foreclosure are collectively 611 days late paying their respective mortgages.

The top places where foreclosures on average take the longest include:

New York (767 days)Florida (757 days)New Jersey (708 days)Hawaii (681 days)Washington D.C. (676 days)

The top places where foreclosures on average take the shortest include:

Wyoming (398 days)Nebraska (407 days)Alaska (411 days)Idaho (416 days)Arizona (418 days)

Homes in states that follow the judicial foreclosure process typically take longer to get through the system because the courts are so overburdened. Non-judicial states, therefore, are going to typically recover faster, according to Herb Blecher, a senior vice president for analytics at LPS, in a recent interview with BusinessWeek. com.

For more on the foreclosure laws in your state click here. To search foreclosed homes for sales in your area click here.

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September 1, 2011 in Bank-owned homes, Foreclosed Homes for Sale, Foreclosure Deals, New Jersey Foreclosure Homes by Foreclosure.comNo comments

To search foreclosed homes for sale in Plainfield, N.J., or anywhere else throughout the United States click here.

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